Common use of Admission of Successor Managing General Partner Clause in Contracts

Admission of Successor Managing General Partner. A successor Managing General Partner selected pursuant to Section 14.2 or the transferee of or successor to the entire Partnership Interest of the Managing General Partner shall be admitted to the Partnership as the Managing General Partner, effective as of the date an amendment or restatement of the Certificate of Limited Partnership is filed with the Secretary of State of the State of Delaware effecting such substitution.

Admission of Successor Managing General Partner. A successor Managing General Partner selected pursuant to Section 14.2 by the holders of a Majority Interest or the transferee of or successor to the entire Partnership Interest of the Managing General Partner pursuant to Section 12.2 shall be admitted to the Partnership as the Managing General Partner, effective as immediately prior to the withdrawal or removal of the date an amendment or restatement Managing General Partner pursuant to Section 14.1. Any such successor shall carry on the business of the Certificate of Limited Partnership is filed with the Secretary of State of the State of Delaware effecting such substitutionwithout dissolution.

Admission of Successor Managing General Partner. A successor Managing General Partner selected general partner approved pursuant to Section 14.2 Sections 15.1 or the transferee of or successor to the entire Partnership Interest of the Managing General Partner’s Managing General Partner Units pursuant to Section 13.6 shall be admitted to the Partnership as the general partner, subject to the requirements of the Limited Partnership Act and the Exempted Partnerships Act, effective immediately prior to the withdrawal of the Managing General Partner pursuant to Sections 15.1 or immediately after the transfer of the Managing General Partner, effective as of the date an amendment or restatement of the Certificate of Limited Partnership is filed with the Secretary of State of the State of Delaware effecting such substitution.’s Managing General Partner Units pursuant to